I'm currently reading a book written by Michael Wolff called The Man Who Owns the News - a book which will be beneficial for my dissertation (which I won't reveal too much at this point). It is a fantastic and insightful. I'm glad I've taken my summer weeks to read it and make notes which are useful for my 10,000 word researched essay.
The majority of his book is about Rupert Murdoch and how News Corporation operates since he took over from his father in 1952, which I won't go into too much detail but what has interested me is how he involves his family in the company. We learn in this book that News Corp. is very much a "family business! - Rupert always wanted his children involved in the firm and preferred them not to turn to another career path.
Elisabeth went to Stanford Business School while James had his own record label during his limited time at Harvard which in both situations their father disliked because neither of these paths would have benefited News Corporation. He disregards their interests because, like some parents, they want their kids to be like them.
My parents were the same when I was younger. My father has asked me a few times if I wanted to work with him in the building industry whilst my mother I'm sure would have said the same thing about becoming an engineer like her. But the difference between my parents and Rupert - they gave me freedom to decide on my career path which I thank them for because my path is a, my own and b, something I'm satisfied with.
I don't usually sympathise with people who have money but I do feel sorry for every child Rupert Murdoch has produced - and it's not because their father is Rupert Murdoch! They have been raised in an environment which they may not have been interested in. I am interested in the media business but I've been raised to open my eyes to horizons, seeing the bigger picture.
Living in the Murdoch family I would imagine is difficult. He does a lot of travelling to UK, Australia and the United States and despite there not being a father figure around often, his influence and presence is a demanding one which gives his children an impression that they have to impress him in order to live life without any regret. It's the same with any large firm such as the Bancroft's, when at Dow Jones and in other major companies - they trust the devil they know and as family people, we learn to appreciate that.
As people may, or may not know - Murdoch has been married three times and in each of them, has produced children; one child in the first marriage (Prudence), three in the second (Elisabeth, Lachlan, James) and two with Wendi Deng (Chloe and Grace). Unfortunately for Rupert, Chloe and Grace cannot be part of his "empire", as his other children call News Corp. as his settlement with Anna (Rupert's second wife) suggests they are forbidden to do so. This would upset the 81-year-old as he likes to treat all his children equally and in his view, in order to do this, he wants them to work for him.
The other four children have been involved in their own way with News Corporation - however James is the only one who stayed and now plays a key role with the company. He is the head of his father's shares at BSkyB and sat side-by-side with Rupert when they were "grilled" by British politicians regarding News of the World's phone hacking scandal. He is what some may consider to be the "ultimate son" which is unusual for the younger boy in the family but since Lachlan's business skills were proved to be his weaker point there came James to his father's rescue.
Elisabeth has found business success of her own with "Shine Limited" while Lachlan resides in Australia keeping himself rather low-key after being victimised by the "bullies" of News Corp. which led to his sudden departure. However, the eldest Prudence is completely different to the other Murdoch's.
She's the one person I admire. As she was the only child from the first marriage, she has witnessed her father live with a step-mother who she never got along with, her relationship with Rupert wasn't great as she is the sort of person who would do things her way. Yes, she worked with News Corp. at some point but realised that there are more to things in life than following her father's footsteps. It's always good to look up to your parents but for them to tell you that their way is the only way, there will be family frictions. Prudence, dated back when Wolff wrote his book, was a housewife who like Lachlan, lives in Australia.
The only reason I can think why Rupert convinces his children from a young age to work for him is because his father, Sir Keith did exactly the same. He studied at Oxford University and during his studies, Keith died and therefore gave all the power of News Corp. to his son when he was only 22. This role does consist of lots of responsibility and Rupert's career as a big-time media mogul started from a very young age.
However, my fear is of the next generation's children. Younger people have a certain amount of ambition and resources to live with and I'm in support of them following their parent's footsteps but the real question we need to be asking is, Are they choosing the right career path if they do what their mum and/or dad do? The children can choose to be like their parents but it's the parent's job to offer the children something different. As GCSE results are released tomorrow, every 16-year-old will be thinking of their next steps. My advice to them is, choose a path which you are confident and comfortable with. Your parents will support you whichever way.
The majority of his book is about Rupert Murdoch and how News Corporation operates since he took over from his father in 1952, which I won't go into too much detail but what has interested me is how he involves his family in the company. We learn in this book that News Corp. is very much a "family business! - Rupert always wanted his children involved in the firm and preferred them not to turn to another career path.
Elisabeth went to Stanford Business School while James had his own record label during his limited time at Harvard which in both situations their father disliked because neither of these paths would have benefited News Corporation. He disregards their interests because, like some parents, they want their kids to be like them.
My parents were the same when I was younger. My father has asked me a few times if I wanted to work with him in the building industry whilst my mother I'm sure would have said the same thing about becoming an engineer like her. But the difference between my parents and Rupert - they gave me freedom to decide on my career path which I thank them for because my path is a, my own and b, something I'm satisfied with.
I don't usually sympathise with people who have money but I do feel sorry for every child Rupert Murdoch has produced - and it's not because their father is Rupert Murdoch! They have been raised in an environment which they may not have been interested in. I am interested in the media business but I've been raised to open my eyes to horizons, seeing the bigger picture.
Living in the Murdoch family I would imagine is difficult. He does a lot of travelling to UK, Australia and the United States and despite there not being a father figure around often, his influence and presence is a demanding one which gives his children an impression that they have to impress him in order to live life without any regret. It's the same with any large firm such as the Bancroft's, when at Dow Jones and in other major companies - they trust the devil they know and as family people, we learn to appreciate that.
As people may, or may not know - Murdoch has been married three times and in each of them, has produced children; one child in the first marriage (Prudence), three in the second (Elisabeth, Lachlan, James) and two with Wendi Deng (Chloe and Grace). Unfortunately for Rupert, Chloe and Grace cannot be part of his "empire", as his other children call News Corp. as his settlement with Anna (Rupert's second wife) suggests they are forbidden to do so. This would upset the 81-year-old as he likes to treat all his children equally and in his view, in order to do this, he wants them to work for him.
The other four children have been involved in their own way with News Corporation - however James is the only one who stayed and now plays a key role with the company. He is the head of his father's shares at BSkyB and sat side-by-side with Rupert when they were "grilled" by British politicians regarding News of the World's phone hacking scandal. He is what some may consider to be the "ultimate son" which is unusual for the younger boy in the family but since Lachlan's business skills were proved to be his weaker point there came James to his father's rescue.
Elisabeth has found business success of her own with "Shine Limited" while Lachlan resides in Australia keeping himself rather low-key after being victimised by the "bullies" of News Corp. which led to his sudden departure. However, the eldest Prudence is completely different to the other Murdoch's.
She's the one person I admire. As she was the only child from the first marriage, she has witnessed her father live with a step-mother who she never got along with, her relationship with Rupert wasn't great as she is the sort of person who would do things her way. Yes, she worked with News Corp. at some point but realised that there are more to things in life than following her father's footsteps. It's always good to look up to your parents but for them to tell you that their way is the only way, there will be family frictions. Prudence, dated back when Wolff wrote his book, was a housewife who like Lachlan, lives in Australia.
The only reason I can think why Rupert convinces his children from a young age to work for him is because his father, Sir Keith did exactly the same. He studied at Oxford University and during his studies, Keith died and therefore gave all the power of News Corp. to his son when he was only 22. This role does consist of lots of responsibility and Rupert's career as a big-time media mogul started from a very young age.
However, my fear is of the next generation's children. Younger people have a certain amount of ambition and resources to live with and I'm in support of them following their parent's footsteps but the real question we need to be asking is, Are they choosing the right career path if they do what their mum and/or dad do? The children can choose to be like their parents but it's the parent's job to offer the children something different. As GCSE results are released tomorrow, every 16-year-old will be thinking of their next steps. My advice to them is, choose a path which you are confident and comfortable with. Your parents will support you whichever way.
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